Your Property Tax Bill
Most of us have a property tax bill that we pay either twice a year or as part of our monthly house payment. Let’s look at some of the details:
- Payment time frames-If your payment is not part of your monthly payment, you are required to pay twice each year. The tax period begins July 1 and ends June 30. Your first payment covering July through December, is due November 1 and is late if not paid by December 10. The payment for the second half is due February 1 and late April 10
- Your tax bill-there are three categories of charges on your tax bill
- General Tax Levy: This is your basic tax bill. Per Proposition 13 it is limited to 1.0% of your original sales price an increase of no more than 2.0% each year of ownership
- Voted Indebtedness: this section covers all of those additional charges we voted for, such as school or water district bonds. These can increase your tax bill by quite a bit.
- Direct Assessments: The Assessment most of us are familiar with are “Mello-Roos” bonds. These are essentially fixed amounts that do not change upon sale. They can increase a small amount each year and are ultimately paid off in full. In many of our local communities, the Mello-Roos bonds have been paid and homeowners’ tax bills have been reduced.
I hope that takes some of the mystery out of our property tax bills.
Feel free to call 949-500-6365, email Frank@FrankDiLauro.com or now you can also reach us through our Instagram account. Log onto Instagram and search “FrankandSusan”
